"FERC Enforcement Chief Picked by Obama as Agency Chairman"

"President Barack Obama will nominate former federal prosecutor Norman Bay, now the head of enforcement at the U.S. Federal Energy Regulatory Commission, to be the agency’s chairman."

"Bay would join the five-member agency as a commissioner, and be designated chairman when he joins the board, according to a White House statement yesterday. He would succeed Cheryl LaFleur, the acting chairman who’s also a FERC commissioner.

If confirmed by the Senate, Bay would raise the profile of the agency as an enforcer of market rules. Bay, a former U.S. Attorney in New Mexico, led the FERC division that in the past two years handled investigations of alleged electricity-market manipulation by companies including Barclays Plc, Deutsche Bank AG, and JPMorgan Chase & Co."

Brian Wingfield reports for Bloomberg News January 31, 2014.

Source: Bloomberg, 02/03/2014